This mining company has precious metal properties and land positions throughout the Americas, including in Brazil, Chile, Argentina and Mexico.
Yamana Gold (AUY)
from Prudent Speculator
Yamana Gold (AUY) is a gold producer, developer and explorer with assets in Central and South America. Despite an overall tough go for gold since the beginning of 2013, the company has maintained a focus on reliability, which includes the growth and protection of reserves, resources and production inputs.
Although Yamana is heavily invested in gold production, it is also a copper and silver miner and is well-positioned to continue increasing its production capacity over the coming quarters. The firm is currently targeting 1.4 million ounces of gold equivalent production for 2014, with a longer-term target of 1.7 million ounces per year.
Although we are not banking on a grand resurgence in gold prices over the near term, we like that management is working to capitalize on the current depressed gold price environment to maximize margins via cost cutting and containment. Yamana has one of the lowest cash operating costs in the industry. With our view that a gold miner or two is a valuable hedge, we find AUY to be a welcome addition to our diversified portfolios.
John Buckingham, The Prudent Speculator, www.theprudentspeculator.com, 877-817-4394, April 2, 2014